Tencent Holdings (OTC:TCEHY)-backed Chinese property agency KE Holdings (NYSE:BEKE) has received a regulatory nod for a dual-primary listing in Hong Kong, as it faces a possible delisting from U.S. exchanges.
What Happened: KE Holdings is among a recently-updated list of 86 Chinese companies — including JD.com Inc. (NYSE:JD) and Nio Inc. (NYSE:NIO) — of U.S. Securities and Exchange Commission that face the risk of delisting amid a long-running auditing standoff between the United States and China.
In a statement, the company said, it has received the go-ahead from the local stock exchange to list its Class A ordinary shares on the main board by way of introduction. The stock will start trading on May 11.
The operator of housing platforms Beike Zhaofang and Lianjia has joined a slew of companies that are eying Hong Kong for dual listing amid the uncertain environment in the U.S. for the Chinese-listed companies. Recently, Nasdaq-listed short video platform Bilibili Inc (NASDAQ:BILI) announced that it would convert its secondary listing status in Hong Kong into a dual-primary listing by Oct. 3.
Price Action: According to data from Benzinga Pro, KE Holdings shares closed 0.55% lower on Wednesday in the U.S. market.
